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Aquila sets aside Pasminco fighting fund

AQUILA Resources has set aside $1 million to fund its proposed $153 million litigation claim against Pasminco for damages arising from the termination of its agreement to buy a 49% stake in the Ernest Henry mine last year.

Michael Quinn

Aquila executive chairman Tony Poli said Aquila has spent around $150,000 to date, and believes it has a case against Pasminco. It has yet to decide whether to pursue MIM, but Poli said the company...

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